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Newbuilds
----------------------------------------------------------------------------Vessel Name Shipyard Charterer Expected Capacity Delivery (TEU)(16) (based on latest shipyard schedule)----------------------------------------------------------------------------1 Hull S4010 Sungdong Shipbuilding MSC March 2013 8,770----------------------------------------------------------------------------2 Hull S4011 Sungdong Shipbuilding MSC March 2013 8,770----------------------------------------------------------------------------3 Hull S4020 Sungdong Shipbuilding Evergreen May 2013 8,770----------------------------------------------------------------------------4 Hull S4021 Sungdong Shipbuilding Evergreen May 2013 8,770----------------------------------------------------------------------------5 Hull S4022 Sungdong Shipbuilding Evergreen July 2013 8,770----------------------------------------------------------------------------6 Hull S4023 Sungdong Shipbuilding Evergreen July 2013 8,770----------------------------------------------------------------------------7 Hull S4024 Sungdong Shipbuilding Evergreen August 2013 8,770----------------------------------------------------------------------------8 H1068A Jiangnan Changxing MSC November 2013 9,400----------------------------------------------------------------------------9 H1069A Jiangnan Changxing MSC December 2013 9,400----------------------------------------------------------------------------10 H1070A Jiangnan Changxing MSC February 2014 9,400----------------------------------------------------------------------------
(1) Charter terms and expiration dates are based on the earliest date charters could expire.
(2) This average rate is calculated based on contracted charter rates for the days remaining between January 23, 2013 and the earliest expiration of each charter. Certain of our charter rates change until their earliest expiration dates, as indicated in the footnotes below.
(3) This charter rate changes on May 8, 2014 to $26,100 per day until the earliest redelivery date.
(4) This charter rate changes on June 30, 2014 to $26,100 per day until the earliest redelivery date.
(5) This charter rate changes on August 24, 2014 to $26,100 per day until the earliest redelivery date.
(6) This charter rate changes on October 20, 2014 to $26,100 per day until the earliest redelivery date.
(7) This charter rate changes on December 4, 2014 to $26,100 per day until the earliest redelivery date.
(8) This charter rate changes on January 13, 2016 to $26,100 per day until the earliest redelivery date.
(9) This charter rate changes on April 28, 2016 to $26,100 per day until the earliest redelivery date.
(10) This charter rate changes on June 11, 2016 to $26,100 per day until the earliest redelivery date.
(11) Charterers shall have the option to terminate the charter by giving six months' notice, in which case they will have to make a one-time payment which shall be the $6.9 million reduced proportionately by the amount of time by which the original 3-year extension period is shortened.
(12) The charterer is required to pay approximately $5.0 million no later than July 2016, representing accrued charter hire, the payment of which was deferred.
(13) The charter rate will change to $11,500 per day, starting from May 2013 until the earliest redelivery date.
(14) The charter rate will change to $11,500 per day, starting from June 2013 until the earliest redelivery date.
(15) As from December 1, 2012 until redelivery, the charter rate is to be a minimum of $13,500 per day plus 50% of the difference between the market rate and the charter rate of $13,500. The market rate is to be determined annually based on the Hamburg ConTex type 3500 TEU index published on October 1 of each year until redelivery.
(16) Based on finalized vessel specifications.
